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Devices connected to the Internet today have a wide range of local communication channels available, such as wireless Wifi, Bluetooth or NFC, as well as wired backhaul. In densely populated areas it is possible to create heterogeneous,…
By comparing cryptocurrencies with other existing payment methods, including banknotes and bank cards, it is clear that the use of Bitcoin and its competitors (Ethereum, \dots) is almost insignificant in world trade. We may also note that…
The world has been experiencing a mind-blowing expansion of blockchain technology since it was first introduced as an emerging means of cryptocurrency called bitcoin. Currently, it has been regarded as a pervasive frame of reference across…
The Bitcoin P2P network is at the core of all communications between clients. The reachable part of this network has been explored and analyzed by numerous studies. Unreachable nodes, however, are, in most part, overlooked. Nonetheless,…
Blockchains have block-size limits to ensure the entire cluster can keep up with the tip of the chain. These block-size limits are usually single-dimensional, but richer multidimensional constraints allow for greater throughput. The…
The concept of a blockchain has given way to the development of cryptocurrencies, enabled smart contracts, and unlocked a plethora of other disruptive technologies. But, beyond its use case in cryptocurrencies, and in network coordination…
The price volatility of cryptocurrencies is often cited as a major hindrance to their wide-scale adoption. Consequently, during the last two years, multiple so called stablecoins have surfaced---cryptocurrencies focused on maintaining…
The rise of blockchain technology within a few years has attracted researchers across the world. The prime reason for worldwide attention is undoubtedly due to its feature of immutability along with the decentralized approach of data…
We propose a novel framework to analyse the velocity of money in terms of the contribution (MicroVelocity) of each individual agent, and to uncover the distributional determinants of aggregate velocity. Leveraging on complete publicly…
Since its inception, Bitcoin has been positioned as a revolutionary alternative to national currencies, attracting immense public and academic interest. This paper presents a critical evaluation of this claim, suggesting that Bitcoin faces…
Bitcoin has become the leading cryptocurrency system, but the limit on its transaction processing capacity has resulted in increased transaction fees and delayed transaction confirmation. As such, it is pertinent to understand and probably…
Cryptocurrency is a well-developed blockchain technology application that is currently a heated topic throughout the world. The public availability of transaction histories offers an opportunity to analyze and compare different…
Bitcoin and its underlying technology, blockchain, have gained significant popularity in recent years. Satoshi Nakamoto designed Bitcoin to enable a secure, distributed platform without the need for central authorities, and blockchain has…
Many large decentralized systems rely on information propagation to ensure their proper function. We examine a common scenario in which only participants that are aware of the information can compete for some reward, and thus informed…
We increasingly live in a world where there is a balance between the rights to privacy and the requirements for consent, and the rights of society to protect itself. Within this world, there is an ever-increasing requirement to protect the…
Cryptocurrencies, based on and led by Bitcoin, have shown promise as infrastructure for pseudonymous online payments, cheap remittance, trustless digital asset exchange, and smart contracts. However, Bitcoin-derived blockchain protocols…
Bitcoin is currently subject to a significant pay-for-speed trade-off. This is caused by lengthy and highly variable transaction confirmation times, especially during times of congestion. Users can reduce their transaction confirmation…
This Request For Comment (RFC) is a proposal for a new protocol to use money over the Internet. Features like a distributed architecture, a published cryptographic algorithm, a minimal authority responsibility, the absence of fees will make…
We propose definitions and implementations of "S-money" - virtual tokens designed for high value fast transactions on networks with relativistic or other trusted signalling constraints, defined by inputs that in general are made at many…
One of the defining features of a cryptocurrency is that its ledger, containing all transactions that have evertaken place, is globally visible. As one consequenceof this degree of transparency, a long line of recent re-search has…